Y Intercept Hong Kong Ltd Takes $1.03 Million Position in Permian Resources Co. (NYSE:PR)

Y Intercept Hong Kong Ltd purchased a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 71,437 shares of the company’s stock, valued at approximately $1,027,000.

Several other hedge funds have also recently added to or reduced their stakes in PR. Yaupon Capital Management LP lifted its stake in Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Perpetual Ltd purchased a new position in Permian Resources during the fourth quarter worth approximately $27,104,000. Geode Capital Management LLC boosted its stake in Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after buying an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Permian Resources by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after buying an additional 1,543,854 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Price Performance

PR opened at $13.97 on Thursday. The stock’s 50-day moving average price is $14.68 and its 200 day moving average price is $14.47. Permian Resources Co. has a 12-month low of $12.62 and a 12-month high of $18.28. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.30%. The ex-dividend date is Monday, March 17th. Permian Resources’s payout ratio is currently 36.36%.

Analysts Set New Price Targets

Several research analysts have recently commented on PR shares. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, Piper Sandler raised their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.